Before You Buy
Know the numbers before you buy.
The purchase price is only one part of the cost of buying a home.
Beyond your down payment, there are closing costs, professional fees, taxes, moving expenses, and the ongoing costs of homeownership to consider. Understanding these expenses early allows you to build a realistic budget and avoid surprises later.
My goal is to make sure you know what to expect before you make an offer — so you can buy with clarity and confidence.
Some costs are predictable, while others depend on the property, your financing, and the terms of your transaction. We’ll review the expenses that may apply to your purchase and work with your mortgage professional and lawyer to confirm the numbers.
Mortgage & Financing Costs
Depending on your lender and financing arrangements, you may encounter costs associated with arranging your mortgage.
These can include:
- Mortgage application or processing fees, depending on the lender
- Appraisal fees
- Mortgage default insurance, if applicable
- Other lender or broker-related fees, depending on your financing
Your lender or mortgage broker should provide you with a clear breakdown of any applicable costs before you commit to your mortgage.
Appraisal
An appraisal provides an independent opinion of a property’s value and may be required by your lender as part of the mortgage process.
The cost varies depending on the property and the appraiser. Your lender or mortgage professional can confirm whether an appraisal is required and the expected cost.
Home Inspection
A professional home inspection can provide valuable insight into the condition of a property and help you understand potential maintenance and repair costs.
Often, sellers will provide a pre-listing inspection. These reports can be a useful starting point and, in many cases, provide meaningful insight into the overall condition of the property and potential short- and long-term maintenance items.
That said, I always encourage my buyers to understand exactly what they are relying on before making an offer. If a seller has provided an inspection, we’ll review it carefully together and determine whether it gives you enough information to move forward confidently or whether you should arrange your own inspection.
The cost of an inspection will vary depending on the size, age, type, and location of the property. As a general guide, inspections often range from approximately $500–$1,000+, depending on the scope of the inspection.
Whether an inspection is completed before making an offer or as a condition of an offer depends on the property and the circumstances of the transaction.
My job is to help you understand the risks, options, and trade-offs so you can make an informed decision about how to approach the inspection.